Hyderabad: High cost of funds puts off road projects
Hyderabad: Market fluctuations after the Union Budget was presented to Parlia-ment on July 5 and inc-essant rain in Mumbai have badly affected work on the Strategic Road Development Plan (SRDP).
The Greater Hyderabad Municipal Corporation which has raised Rs 395 crore from the market at 8.9 per cent and 9.38 per cent interest plans to borrow another Rs 300 crore. In the current prevailing scenario, the interest rate has been pegged at over 10 per cent which will cost the corporation at least Rs 60 crore.
